Perma-Fix Environmental Services Stock Forecast
Perma-Fix Environmental Services stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Perma-Fix Environmental Services stock price gained 3.18% on the last trading day (Wednesday, 24th Apr 2024), rising from $11.64 to $12.01. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.74% from a day low at $11.60 to a day high of $12.15. The price has risen in 7 of the last 10 days and is up by 7.71% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 thousand more shares were traded than the day before. In total, 82 thousand shares were bought and sold for approximately $988.96 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 51.62% during the next 3 months and, with a 90% probability hold a price between $16.48 and $22.37 at the end of this 3-month period.
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PESI Signals & Forecast
The Perma-Fix Environmental Services stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.29 and $10.88. A breakdown below any of these levels will issue sell signals. Perma-Fix Environmental Services has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -11.30%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Perma-Fix Environmental Services stock
Perma-Fix Environmental Services finds support from accumulated volume at $11.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.550 between high and low, or 4.74%. For the last week, the stock has had daily average volatility of 4.84%.
Our recommended stop-loss: $11.37 (-5.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (PESI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Perma-Fix Environmental Services to open at $11.92, and during the day (based on 14 day Average True Range), to move between $11.33 and $12.69, which gives a possible trading interval of +/-$0.680 (+/-5.66%) up or down from last closing price. If Perma-Fix Environmental Services takes out the full calculated possible swing range there will be an estimated 11.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.09 (0.67%) than the support at $11.90 (0.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Perma-Fix Environmental Services stock A Buy?
Perma-Fix Environmental Services holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.265 Strong Buy Candidate Upgraded
Predicted Opening Price for Perma-Fix Environmental Services of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $11.92 ( 0.749%) | $12.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PESI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.47 | 3.83 % | |
| R2 | 12.26 | 2.08 % | ||
| R1 | 12.13 | 1.00 % | ||
| Current price: | 12.01 | |||
| Support | S1 | 11.71 | -2.50 % | |
| S2 | 11.58 | -3.58 % | ||
| S3 | 11.37 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.54 | 12.74 % | |
| R2 | 12.95 | 7.83 % | ||
| R1 | 12.09 | 0.666 % | ||
| Current price | 12.01 | |||
| Support | S1 | 11.90 | -0.92% | |
| S2 | 11.15 | -7.16% | ||
| S3 | 9.07 | -24.48% |
FAQ
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